Balfour Beatty lands £97m in UK asset sale

Infrastructure company Balfour Beatty has announced the sale of two UK PPP assets.

50 per cent of its interest in the University Hospital of North Durham and all of its interest in the Knowsley Schools for the Future project will reach a total consideration of £97m, with total gains on the disposal amounting to £51m.

The company said the transaction exceeded the directors' evaluations by £44m, an uplift of 82 per cent.

"These disposals are in line with our strategy to generate income from our Infrastructure Investments business through disposals, thereby releasing cash for future investments and delivering value for our shareholders", said executive chairman Steve Marshall.